There are some scientists who believe that it is a waste to use helium for party balloons.

Uh, scarcity? Uh, price system?

It’s pretty simple: when (if) we start to get low on helium, the price will go up. Presumably the scientists will be better able and more willing to pay more for it than those who would put it in party balloons. Voila, problem solved.

How come seemingly intelligent people have such a hard time understanding scarcity and the price system? The price system is a whole lot simpler than superconduction or the Quantum Hall Effect. And yet…

-JD Cross

 

Advertisements